Storj (STORJ)

About

Storj is a decentralized cloud storage platform that allows users to rent out excess hard drive space, providing a secure and private alternative to traditional cloud storage services. It operates through a network of nodes, where data is encrypted, split into smaller pieces, and distributed across the globe. This decentralized approach ensures that no single entity controls the data, enhancing security and privacy. Storj uses the STORJ token, an ERC-20 cryptocurrency, to facilitate transactions between users and node operators. The platform is designed to be cost-effective and scalable, offering users control over their data. Storj's architecture includes three main components: Storage Nodes, Uplinks, and Satellites. Storage Nodes store and return data, Uplinks manage file uploads and downloads, and Satellites coordinate node activities and distribute payments. By leveraging a peer-to-peer network, Storj reduces reliance on centralized data centers, providing a resilient storage solution with built-in redundancy to prevent data loss.